GE Vernova (NYSE:GEV) Trading Up 2.7% – What’s Next?

GE Vernova Inc. (NYSE:GEV) shot up 2.7% on Wednesday . The company traded as high as $1,053.00 and last traded at $1,039.43. 1,480,229 shares changed hands during trading, a decline of 47% from the average daily volume of 2,778,412 shares. The stock had previously closed at $1,011.88.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. Guggenheim upped their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Robert W. Baird increased their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Price Performance

The stock has a fifty day moving average price of $1,028.19 and a 200-day moving average price of $951.59. The firm has a market capitalization of $276.84 billion, a PE ratio of 29.75, a P/E/G ratio of 3.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the previous year, the business earned $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.72%.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GE Vernova

Large investors have recently made changes to their positions in the stock. Auto Owners Insurance Co boosted its position in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. lifted its stake in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the period. BlackRock Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $25,569,630,000. State Street Corp boosted its holdings in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.